Nigeria's naira plunges to a one-month low of 1,470 against the dollar on the black market. Discover the factors driving this decline, including dollar shortages and speculative trading, and explore expert insights on potential solutions to stabilize the currency amidst growing concerns.
The...
Amidst rising demand for foreign currency, the Nigerian Naira depreciates to 1,430 against the US dollar on the parallel market, signifying a 5.49% decline. Factors driving this include increased demand for travel and education. Analysts anticipate stability within the current band. Explore the...
The Nigerian Naira faced significant depreciation, falling to N1,400 against the US dollar on the black market, fueled by intensified demand pressure in the foreign exchange (FX) market.
This represents a 19.64 percent loss in just two weeks compared to the rate of N1,125 per dollar recorded...
Despite recent efforts by the Central Bank of Nigeria (CBN) to bolster the Naira's value through additional forex injections, the currency continues to struggle against the US Dollar.
FMDQ data reveals a further depreciation of the Naira to N1308.52 per Dollar on Wednesday, down from N1,300.15...
Nigeria's foreign exchange reserves are dwindling at a rapid pace, sparking concerns over the Central Bank's strategy to prop up the naira amidst promises of a more flexible exchange rate.
In a span of just under a month, from March 18 to April 12, liquid reserves plummeted by 5.6%, plummeting...
The Naira has been listed among the 15 worst-performing currencies against the US Dollar, according to Statisense by References1. The report, dated March 18, 2024, highlights the year-on-year loss against the USD for various currencies. Lebanon tops the list with a staggering -497%, followed by...
The Nigerian naira witnessed a 3.45 percent depreciation on Wednesday, plummeting to N1,500 against the dollar in the parallel market. This marks a decline from the N1,450 recorded just two days prior, leaving currency traders, also known as Bureau De Change operators, with a narrow profit...
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